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Journal Article
Ex ante risk and ex post collapse of S&Ls in the 1980s
Conference Paper
The effect of capital on portfolio risk at life insurance companies
Working Paper
Bank time deposit rates and market discipline in Poland: the impact of state ownership and deposit insurance reform
This paper examines the impact of ownership structure and changes in the deposit insurance system on the market for bank time deposits in Poland. In an environment of less restrictive bank supervision and a deposit insurance policy that favored state banks, we find depositors exacted a price for risk taking. After a new law increasing coverage for private banks went into effect, however, bank specific variables became less important in explaining differences in deposit interest rates. We report that the three fully guaranteed state banks pay significantly lower rates that private banks. ...
Journal Article
Market value accounting for commercial banks